China Unveils Major Economic Changes
We told you this morning about changes announced in China to its one-child policy, as well as an announcement that it was ending its re-education camps. But those aren't the only changes announced Friday by the Communist Party.
China also said it would loosen restrictions on foreign investment in e-commerce and other businesses, and allow private competition in state-dominated sectors.
The Associated Press says the changes "could be China's biggest economic overhaul in two decades." Here's more:
"Chinese leaders are under pressure to replace a growth model based on exports and investment that delivered three decades of rapid growth but has run out of steam. Reform advocates say Beijing must curb the privileges and dominant role of state companies they say are inefficient and a drag on growth."